Is Ottawa, IL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Ottawa has remained a Seller's Market.
Housing Prices in Ottawa, IL
How much do homes in Ottawa, IL cost?
Median Sold Price
$174,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Ottawa was $174,000 in March 2024, up 15% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $66K | $165K | +150.0% |
2 Bedrooms | $120K | $140K | +16.7% |
3 Bedrooms | $158K | $175K | +10.8% |
4 Bedrooms | $200K | $240K | +20.0% |
5+ Bedrooms | $200K | $320.2K | +60.1% |
Summary: Ottawa housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 60.1%.
Median Sold Price Compared To Nearby Cities
Ottawa Township | $135K | $173K | +28.2% |
Ottawa | $151.2K | $174K | +15.0% |
South Ottawa Township | $162K | $181.5K | +12.0% |
Housing Supply in Ottawa, IL
How many homes are available in Ottawa, IL?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
54 | 64 | +18.5% |
Summary: The Ottawa real estate market had 64 homes for sale in March 2024, a 18.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 14 | 16 | +14.3% |
3 Bedrooms | 23 | 29 | +26.1% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Ottawa housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 26.1%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 15 | +7.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Ottawa in March 2024, up by 7.1% month-over-month. Of the 15 sold homes, 60% were sold under asking, 7% were sold at asking, and 33% were sold over asking.
Days on Market for Ottawa, IL
How long does it take to sell a home in Ottawa, IL?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
61 Days | 43 Days | -30.3% |
Summary: Homes in Ottawa had an average of 43 days on market in Mar 2024, down by 30.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in Ottawa; 67% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.